Technology stocks posted solid gains on Friday, propping up sagging blue chips in the process.
Ciscodidn’t see much follow-through a day after gaining 6% on blow-out results, but several other technology bellwethers gained on optimism that they can duplicate Cisco’s feat next week.
HP, NetAppand Applied Materialsgained ahead of their results, while Dellinvestors showed a little caution ahead of its earnings report.
Inteledged higher on plans to build a $1 billion plant in Vietnam. Oracle, Qualcommand eBaywere other volume gainers.
A number of companies declined on earnings news, among them Shanda, Tom Online, Nvidia, Merge, InfoSonicsand Cambridge Display.
Applied Microgained 5% after topping forecasts.
Blue chip stocks were mixed after traders cheered results from AIG, but punished Disneyon its report.
The Nasdaq gained 13 to 2389, the S&P 500 added 2 to 1380, and the Dow climbed 5 to 12,108. Volume declined to 2.29 billion shares on the NYSE, and 1.75 billion on the Nasdaq. Advancers led 21-11 on the NYSE, and 18-11 on the Nasdaq. Upside volume was 56% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 210-19 on the NYSE, and 107-53 on the Nasdaq.